Options for Redundancy Benefit Clause Samples

The "Options for Redundancy Benefit" clause defines the choices available to an employee regarding the benefits they may receive if their position is made redundant. Typically, this clause outlines whether the employee can select between a statutory redundancy payment, an enhanced company redundancy package, or other forms of compensation, and may specify the process for making such a selection. Its core practical function is to provide clarity and flexibility for both employer and employee in managing redundancy situations, ensuring that the employee understands their entitlements and the employer fulfills its obligations.
Options for Redundancy Benefit. An officer made redundant in accordance with this Schedule will receive a lump sum payment unless the officer elects to receive income maintenance.
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